OK

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@blueprintsmb22 Thats all you placed from Stern? Surprised. It's one of the larger feeder programs into high finance.

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@Restructuring__ No offense, but you'll not get in that system

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@blueprintsmb22 @connorpera Private or public school for your kids?

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@blueprintsmb22 Issue on the supply side (at least where I'm at) is empty nesters not doing empty nester things (moving). At some point with prices going up something has got to give and shake more supply loose.

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@lemarcaspors_ But no hakan sukur 🤔

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@ericstait @CREGraveDancer You have no idea what you're talking about

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@blueprintsmb22 @difficultyang I feel you so much on this, lol. I thought we'd need the space for guests (parents on both sides), turns out we bought waaaay more space than we need. Also, I severely underestimated how little I would care for a yard and trees/shrubs/flower beds. Complete money pit!

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@blueprintsmb22 @difficultyang We moved from Jersey City to the burbs 2 years ago. At that time the post-covid price run up was crazy; I thought we had plateauted, but we have had ~20% paper gain on hoke price since then.

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@blueprintsmb22 @EndresenHeather @SBAdealCloser @SBA_Matthias Wonder what the counterparty risk is. What's the likelihood the insurer will be around to make payment. Someone mentioned 2% a year for premium, thats a complete steal if true. 200bps of credit spread for a 70-90% LTV small business acquisition

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@blueprintsmb22 @yzhang390 You'd think if they were serious they'd have come through with a committed financing package. I'm skeptical a real bank will provide a 20bn commitment on this.

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@yzhang390 @blueprintsmb22 That's not a real commitment. Best efforts. No way TD has the capability to offer committed financing of this magnitude.

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@BoringBiz_ You're very much replaceable. If you're a decently sized firm all the lenders know you, they dont have differentiated financing access.

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@recostseg What is depreciation recapture on cost seg, your effective tax rate?

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@PerrySolem Cant be financed unless they have a lease term that matches the term of the debt. Most typically would be SBA which is 10 year term.

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@toddsaunders Im interested, close by!

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@everestchris6 Pool

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@SMB_Attorney LOI, thanks

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@proverbs_18_2 @OneManLBO Claude for excel is legitimately mind blowing. Its made me incredibly lazy on formatting / editing things since I can just tell claude to do it

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@OneManLBO From a production standpoint I dont see the need for IB analysts. Obviously still need them for grooming future MDs, but opus 4.6 can do full side by side comps, LBO models etc.

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@OneManLBO I've had the view (whether right or wrong) that commercial is also relationship driven and inherently has more key man risk if the owner is a known quantity in the market. Im sure it depends on the type of commercial work you do.